External quality assessments of internal audit
Under IIA Standard 1312, external assessments must be conducted at least once every five years by a qualified assessor or assessment team from outside the organisation.
Qualifications of the assessment team
The auditors on our assessment team hold:
- audit qualifications — Certified Internal Auditor (CIA) and certificates from the Polish Minister of Finance confirming that they have passed the state internal auditor examination,
- completed training, concluded with an examination, in performing external assessments, delivered by The Institute of Internal Auditors (Internal Audit Quality Assessment),
- many years of experience in internal and external audit and in managing an internal audit function.
Full external assessment
- a review of the internal audit function against the requirements of the IIA International Standards for the Professional Practice of Internal Auditing (Standard 1312) and Practice Advisory 1312-1,
- a review of documentation, in particular: the quality assurance and improvement programme, the internal audit charter, the audit function's internal rules, annual plans and reports, risk analyses, and the documentation of selected assurance and advisory engagements,
- interviews — with the member of senior management overseeing the internal audit function, the head of the audit function, and selected internal audit clients,
- an assessment of conformance with the individual Standards on the IIA scale (generally conforms / partially conforms / does not conform),
- additionally: an assessment of the audit function's compliance with the Polish Public Finance Act and the methodological regulation,
- a report with the results of the review and recommendations.
Self-assessment with independent validation
- an assessment based on materials provided electronically and a validators' visit to the entity (approx. 1–2 days),
- verification of the self-assessment results on a sample of key aspects of conformance with the IIA Standards, and on the basis of questionnaires and interviews with management and the auditor,
- a report referring to the self-assessment report — with any discrepancies identified and a proposed quality improvement programme.
After the assessment, we also help develop any missing documentation and carry out
the subsequent annual audits.
Let's talk about your organisation
Audit, accounting, advisory or training — write to us and we will come back with a specific proposal.